C06073-2023

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Aug 7, 2023
2. SEC Identification Number
AS094-000088
3. BIR Tax Identification No.
003-058-789
4. Exact name of issuer as specified in its charter
SM PRIME HOLDINGS, INC.
5. Province, country or other jurisdiction of incorporation
PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
10th Floor Mall of Asia Arena Annex Building, Coral Way cor. J.W. Diokno Blvd., Mall of Asia Complex, Brgy. 76, Zone 10, CBP-1A, Pasay City, Philippines Postal Code 1300
8. Issuer's telephone number, including area code
(632) 8831-1000
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON STOCK, P1 PAR VALUE 28,879,231,694
DEBT SECURITIES – RETAIL BOND 142,932,740,000
11. Indicate the item numbers reported herein
ITEM # 9, LETTER B.

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

SM Prime Holdings, Inc.SMPH

PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

SM Prime Net Income up by 49% in 2Q of 2023
Background/Description of the Disclosure

(07 August 2023, Pasay City, Philippines) SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property developers in Southeast Asia, reported a 49% increase in consolidated net income to PHP10.0 billion in the second quarter of 2023 from PHP6.7 billion in the second quarter of 2022. This is on the back of a 39% growth in consolidated revenues to PHP31.2 billion from PHP22.5 billion in the same period being reviewed. Consolidated operating income rose by 42% to PHP15.1 billion in 2Q2023 from PHP10.7 billion in 2Q2022.

SM Prime’s consolidated net income reached PHP19.4 billion in the first half of 2023, 38% higher than PHP14.1 billion in 2022. This is supported by the 29% growth in consolidated revenues to PHP59.9 billion from PHP46.3 billion. Consolidated operating income grew by 36% to PHP29.0 billion in 1H 2023 from PHP21.4 billion in 1H 2022.

SM Prime’s Philippine mall business revenues posted a 30% growth in the second quarter of the year to PHP16.1 billion from PHP12.4 billion last year. Operating income rose by 27% quarter-on-quarter to PHP8.8 billion from PHP6.9 billion.

The Company’s local mall business registered PHP31.5 billion in revenues in the first half of 2023, 53% higher than PHP20.6 billion in 2022. This accounts for 53% of the Company’s consolidated revenues. Rent income grew by 42% year-on-year to PHP26.3 billion from PHP18.6 billion, as improvement in tenant sales and foot traffic continues. SM Prime’s local cinema, ticket sales, and other revenues improved to PHP5.2 billion in the first half of the year, 156% higher than PHP2.0 billion in 2022. On the other hand, SM Prime’s China mall business reported RMB398 million in revenues in the first six months of 2023, with a certain improvement from last year’s RMB385 million.

SM Prime’s primary residential business, led by SM Development Corp. (SMDC), reported PHP9.9 billion in revenues in the second quarter of 2023, 82% higher than PHP5.4 billion in the same quarter last year. Operating income jumped by 83% quarter-on-quarter to PHP4.2 billion from PHP2.3 billion. First half revenues amounted to PHP17.6 billion.

SMDC’s reservation sales in the second half of 2023 reached PHP68.5 billion, 15% higher than last year’s PHP59.4 billion. This translates to a 17% growth in unit sales in 1H 2023. The improving market condition provided local and overseas Filipino buyers capacity to invest in SM Prime’s residential projects.

SM Prime’s other business segments, which include offices, hotels, and convention centers, recorded a 40% growth in revenue to PHP6.2 billion in the first half of 2023 from PHP4.5 billion in 2022.

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.

-End-
Other Relevant Information

For further information, please contact:
John Nai Peng C. Ong
Chief Finance Officer
SM Prime Holdings, Inc.
E-mail: [email protected]
Tel. no.: 8831.1000 loc. 7886

Forward-looking Statement
This document may contain forward-looking statements and forward-looking information that are subject to significant risks and uncertainties including, without limitation, statements relating to known and unknown risks; uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from expected future results; performance or achievements expressed or implied by forward-looking statements; our overall future business, financial condition, and results of operations, including, but not limited to financial position or cash flow; our goals for or estimates of future operational performance or results; and changes in the regulatory environment including, but not limited to, policies, decisions, and determinations of governmental or regulatory authorities. Although: (1) SM Prime Holdings, Inc. has extensive experience; and (2) the forward-looking statements may be reasonable, nothing herein should be relied upon as a commitment from SM Prime Holdings, Inc. as we cannot guarantee future events, performance or events due to various risks and uncertainties.
Filed on behalf by:
Name Alexander Pomento
Designation Vice President